The 18-year-old received three gun shot wounds to his right leg and two gunshot wounds to his left leg.
The incident happened at Rathlin Drive in the Creggan area of Derry shortly after 11.20pm.
The teen was taken to Altnagelvin Hospital for treatment to his injuries which are not believed to be life-threatening.
A PSNI spokesperson asked anyone with any information about the incident to contact CID at Strand Road Police Station on the 101 non-emergency number.
The spokesperson added if anyone preferred to provide information without giving their details, they could contact the independent charity Crimestoppers and speak to them anonymously on 0800 555 111.